A lender would require you to have this done, but if you are paying cash, nobody will force you to protect yourself.Third Party Reports: $17KSurvey $2KTitle Recording and Search $5KAttorney Fees ? 

Does anyone has any knowledge on how and or where a retail investor can go to invest in assets that pay a royalty?

I sell houses all the time by just listing them on Zillow, so don't think you need to pay a listing agent and if the buyer doesn't drag their realtor into the mix, you might not need to pay a buyers agent either.

Whether they are ones you negotiate for them to pay or ones you pay for out of your pocket.

If she doesn't have the money to pay 2x the rent, have her pay 1x (or if you can get it rented for Aug, refund her the difference so you aren't collecting double the rent). 

I'm in Canada and if you put 20% down or more, you don't have to pay it and it is pricey.

He was being foreclosed because at least one of his tenant wasn't paying and he couldn't afford the mortgage. 

Remember, the value is just what a buyer would be willing to pay for it and technically, there is no way of knowing that for any property, unless it is for sale on the market.

Don’t skimp on screening or you will pay for it.

DetailsPurchase price: 1.1MReturn (IRR):11.86% per yearCapitalization Rate:5.45%Total Profit when Sold: $1.16MHolding period: 20 years5% down (so that I can take maximum leverage)mortgage rate: 6.7% 30-year fixedVacancy: 5%Management Fee: 8% --> I used this only for calculation but as I will be staying there, I plan to self-manage it.Cash flow: negative $1500 --> My primary job pays decently and I can manage this and have 12 months of reserves.